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Owner Greg Kay, a pharmacist, purchased this waterfront property in the Australian state of Tasmania in 2009 for 1.4 million Australian dollars (US$1.3 million). It had two interconnected homes: an ordinary 1950's house, which Mr. Kay demolished, and an 1890's timber cottage, which he partly kept and restored. He then added a completely new minimalist and contemporary building, which also is connected to the cottage.
Jason Busch Photography

The newly constructed section, shown here, was completed in March 2012. It has one bedroom and 2½ bathrooms, while the cottage wing has two bedrooms and two bathrooms. Each section has its own separate front entrance. The two sections are combined to make one large home, which is 4,564 square feet.
Jason Busch Photography

The stilts of the modern wing, shown here, were placed to ensure the outdoor deck and office room were built 15.1 feet (or 4.6 meters) above and 9.1 feet (or 2.8 meters) to the side of a sewage line, which runs through the property, in compliance with government regulations. 'Also, we were only allowed to build within 15 meters [about 49¼ feet] of the foreshore, so those restrictions really determined the footprint, and the height, length and breadth of the building,' Mr. Kay says. The total size of the land is 10,893 square feet.
Jason Busch Photography

The red painting in the dining area, shown here, was purchased by the owner during a vacation to Chile. Mr. Kay added Tasmanian celery-top pine ceilings, accent walls and joinery throughout the home to soften the look of the concrete.
Jason Busch Photography

The panoramic views of the River Derwent are a focal point of the home, which is located in the affluent suburb of Battery Point. The area is one of the first European settlements in Hobart, the capital of Tasmania, and renowned for its large number of heritage homes. It is approximately 11 miles from the city's international airport and less than a half mile to Salamanca Place, the cultural and tourist hub of the city.
Jason Busch Photography

'Because the deck and the building above the sewage line had to be 4.6 meters above ground level, it meant that we had a large space in the basement that wasn't going to get a lot of sun,' Mr. Kay says. 'That's why we put the swimming pool in.' The pool is gas heated and the surrounding concrete paving has hydronic heating.
Jason Busch Photography

Mr. Kay's favorite part of the home is his office, which is a stand-alone cube building facing the water. 'I spend a lot of my time there and it has a stunning view,' he says. 'It just has a lovely, calm feeling.'
Jason Busch Photography

The cottage wing has a kitchenette, dining and living area with a gas fireplace, and a smaller sitting room also with a gas fireplace. The doorway at the back leads to the new section.
Jason Busch Photography

Mr. Kay is selling the property because he would like to downsize. He says the home could appeal to potential buyers who want privacy within their own family, such as those with teenage children who could live in the cottage section. 'It could also suit a couple who liked to have guests and do a lot of entertaining,' he says.
Jason Busch Photography

The property has just been put on the market. It is listed for A$5.5 million (US$5.1 million) with Knight Frank Tasmania agents Pam Corkhill and Steve Yannarakis. The furnishings are not included in the sale price but are negotiable.
Jason Busch Photography